- Bitcoin’s fluctuations saw altcoins extend price pullbacks
- AVAX and ADA have erased all 2024 gains and dropped to levels last seen in late 2023.
The crypto market was down today as it struggled to shake off last week’s bearish sentiment. According to CoinMarketCap data, the overall market cap was down 1.63% in the past 24 hours.
Notably, Bitcoin [BTC] led the market rout after hitting a monthly low of $64.5K, a level last seen in mid-May.
Why is crypto down today?
With the drop came massive outflows worth over $200 million, across BTC spot markets, in the past 12 hours alone.
Source: Coinglass
Investors’ risk-off approach to the largest digital asset was also observed on the 17th of June in the U.S. spot BTC ETFs. According to Farside Investors data, the products saw a $145.9 million total outflow on Monday.
It meant that last week’s bearish sentiment was well sustained into the new week.
However, the market rout hit altcoins the hardest, as most of them extended price retracement above 50%. Compared to BTC, the drop to $65K was about a 10% retracement from its March record high of $73.7K.
For the home of memecoins, Solana [SOL] was down about 4% in the past 24 hours. Based on its 2024 highs, the drop was about 38% as it traded at $137.
SOL was below its short-term trend (50-day EMA) but saw a slight relief above the 200-day EMA.
Source: SOL/USDT, TradingView
On the other hand, Cardano [ADA] was down 55% from its 2024 highs of $0.8 based on the press time value of $0.37. It retested some levels last seen in November 2023.
Its price had breached below short and long-term trends (50 and 200-day EMAs), reinforcing sellers had a run with the altcoin.
Source: ADA/USDT, TradingView
Similarly, Avalanche [AVAX] was down about 10% on the daily charts and hit levels last seen in December 2023. The massive bleedout across altcoins demonstrated that they were worst hit by the market drawdowns.
Is your portfolio green? Check out the BTC Profit Calculator
Unfortunately, long positions suffered the most. According to Coinglass data, overall liquidations hit over $240 million, with longs accounting for $224 million worth of rekt positions in the past 12 hours.
Source: Coinglass
The 19th of June will be a U.S. holiday, and most federal banks will close shop. It remains to be seen whether the holiday will slow crypto trading and possibly reduce the bleeding.
- Bitcoin’s fluctuations saw altcoins extend price pullbacks
- AVAX and ADA have erased all 2024 gains and dropped to levels last seen in late 2023.
The crypto market was down today as it struggled to shake off last week’s bearish sentiment. According to CoinMarketCap data, the overall market cap was down 1.63% in the past 24 hours.
Notably, Bitcoin [BTC] led the market rout after hitting a monthly low of $64.5K, a level last seen in mid-May.
Why is crypto down today?
With the drop came massive outflows worth over $200 million, across BTC spot markets, in the past 12 hours alone.
Source: Coinglass
Investors’ risk-off approach to the largest digital asset was also observed on the 17th of June in the U.S. spot BTC ETFs. According to Farside Investors data, the products saw a $145.9 million total outflow on Monday.
It meant that last week’s bearish sentiment was well sustained into the new week.
However, the market rout hit altcoins the hardest, as most of them extended price retracement above 50%. Compared to BTC, the drop to $65K was about a 10% retracement from its March record high of $73.7K.
For the home of memecoins, Solana [SOL] was down about 4% in the past 24 hours. Based on its 2024 highs, the drop was about 38% as it traded at $137.
SOL was below its short-term trend (50-day EMA) but saw a slight relief above the 200-day EMA.
Source: SOL/USDT, TradingView
On the other hand, Cardano [ADA] was down 55% from its 2024 highs of $0.8 based on the press time value of $0.37. It retested some levels last seen in November 2023.
Its price had breached below short and long-term trends (50 and 200-day EMAs), reinforcing sellers had a run with the altcoin.
Source: ADA/USDT, TradingView
Similarly, Avalanche [AVAX] was down about 10% on the daily charts and hit levels last seen in December 2023. The massive bleedout across altcoins demonstrated that they were worst hit by the market drawdowns.
Is your portfolio green? Check out the BTC Profit Calculator
Unfortunately, long positions suffered the most. According to Coinglass data, overall liquidations hit over $240 million, with longs accounting for $224 million worth of rekt positions in the past 12 hours.
Source: Coinglass
The 19th of June will be a U.S. holiday, and most federal banks will close shop. It remains to be seen whether the holiday will slow crypto trading and possibly reduce the bleeding.
can i buy cheap clomid no prescription can you buy cheap clomid without rx get generic clomiphene pills where to get clomid price cheap clomid for sale clomiphene risks good rx clomiphene
Thanks recompense sharing. It’s first quality.
The reconditeness in this tune is exceptional.
buy zithromax 250mg generic – purchase metronidazole sale metronidazole online order
order rybelsus 14mg pills – buy cyproheptadine 4mg without prescription periactin price
buy cheap motilium – motilium 10mg price order flexeril without prescription
buy inderal pills – cost plavix 150mg methotrexate 5mg ca
order nexium generic – https://anexamate.com/ order esomeprazole 20mg sale
cheap coumadin – https://coumamide.com/ order hyzaar
buy meloxicam 7.5mg without prescription – tenderness buy meloxicam 15mg for sale
buy generic prednisone – inflammatory bowel diseases deltasone 20mg us
low cost ed pills – red ed pill best over the counter ed pills
oral amoxil – https://combamoxi.com/ amoxil medication
order diflucan 100mg without prescription – https://gpdifluca.com/ diflucan 200mg without prescription
lexapro for sale online – https://escitapro.com/# cost escitalopram
oral cenforce 50mg – https://cenforcers.com/# buy cheap cenforce
cialis canadian purchase – tadalafil 20 mg directions cheap cialis pills
side effects of cialis daily – https://strongtadafl.com/ buy cialis without doctor prescription
ranitidine generic – https://aranitidine.com/ ranitidine 300mg for sale
canadian viagra 100mg – viagra for sale in the philippines buy sildenafil citrate tablets 100mg
More posts like this would persuade the online space more useful. order nolvadex without prescription
More articles like this would frame the blogosphere richer. https://buyfastonl.com/amoxicillin.html
This is the kind of criticism I in fact appreciate. https://ursxdol.com/provigil-gn-pill-cnt/
This is the description of serenity I enjoy reading. online
More posts like this would force the blogosphere more useful. https://aranitidine.com/fr/acheter-propecia-en-ligne/
This website absolutely has all of the low-down and facts I needed to this thesis and didn’t positive who to ask. https://ondactone.com/product/domperidone/
Thanks an eye to sharing. It’s first quality.
https://doxycyclinege.com/pro/esomeprazole/
This website really has all of the low-down and facts I needed to this case and didn’t comprehend who to ask. http://www.underworldralinwood.ca/forums/member.php?action=profile&uid=487613
buy forxiga 10 mg for sale – https://janozin.com/# forxiga 10mg usa
orlistat where to buy – click order xenical 60mg online cheap
More posts like this would make the blogosphere more useful. http://shiftdelete.10tl.net/member.php?action=profile&uid=205494